Unchained

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Aave DAO on Christmas Day lost the vote to take control of Aave brand assets, but the fight is likely not over.

In this Uneasy Money episode Aave Chan Initiative (ACI) founder Marc Zeller takes hosts Kain Warwick and Taylor Monahan inside the fight over one of DeFi's biggest names, teasing a “phase two” of the fight.

Plus, why is Infinex's ICO getting so much flak and are claims of insider trading on Polymarket misguided?

Hosts:

Guests:

Links:

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In this Unchained podcast episode, guests Alex Thorn and Ryan Graham share their 2026 outlook for Bitcoin and the broader crypto market, exploring why the year looks unusually uncertain.

The conversation also digs into questions around Ethereum’s long-term value, whether killer apps are enough to drive adoption, prediction markets’ push into sports betting, and why the privacy meta could continue in 2026.

Hosts:

Guests:

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Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. It's a new year, and that means the crew is back with their annual year-end awards and predictions episode.

First up: the 2025 winners and losers. From Trump's meme-coin windfall to Gary Gensler's legacy getting torched, from prediction markets going mainstream to Web3 getting its official eulogy — no one is safe. The team debates the biggest surprises (Circle's shocking IPO run, Ethereum's pivot under new leadership, Zcash's unlikely comeback), the best new mechanisms (ICO 2.0, DATs, federal preemption), and the year's best memes (including the Chopping Block's own tariff factory video).

Then comes the flops and comebacks: AI agents that overpromised, Berachain's fall from grace, and Tether somehow winning again. Finally, the crew reviews how badly their 2025 predictions aged — spoiler: not great — and lays out fresh calls for 2026 including AI-powered hacks, stable-coin-funded AI capex, and equity perps taking over DeFi.

New year, fresh takes, brutal honesty — let's get into it.

Show highlights

🔹 Biggest winner debate — Trump's meme-coin empire, prediction markets going mainstream, and M&A consolidation reshaping the industry.

🔹 Gary Gensler's legacy destroyed — Haseeb declares his SEC tenure the biggest loser as every initiative got reversed.

🔹 Web3 pronounced dead — Tarun writes the epitaph on the "ownership economy" thesis as NFT sentiment hits rock bottom.

🔹 Bitcoin as biggest loser? — Robert's controversial pick: BTC underperformed in a year that should have been its best.

🔹 Circle IPO shocks — From skeptics to $70B market cap, the stablecoin thesis briefly took over Wall Street.

🔹 Ethereum pivot surprise — Vitalik's leadership shake-up and new EF direction restored optimism no one expected.

🔹 DATs dominate mechanism talk — Robert calls them highest "absolute value of impact" — amplifying volatility both ways.

🔹 AI agents flopped hard — From mania to annoyance, the speculative thesis collapsed and sentiment turned hostile.

🔹 2025 predictions reviewed — The team confesses their misses (150K BTC, 5x AI agent caps) with Tom winning at 2/3.

🔹 2026 predictions dropped — AI-generated $100M+ hacks, stable-coin-funded AI capex, and equity perps hitting 20% of DeFi volume.

Hosts:

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Tom Schmidt, General Partner at Dragonfly 

Timestamps

00:00 Intro

00:26 Crypto Industry Overview

02:39 Biggest Winners of 2025

07:32 Biggest Losers of 2025

13:29 Biggest Surprises of 2025

22:24 Best New Mechanisms of 2025

28:49 Best Memes of 2025

33:24 Best and Worst Pivots of 2025

39:15 Biggest Flops of 2025

41:31 Biggest Flop of 2025

42:58 Bitcoin's Disappointing Year

45:30 Biggest Comeback Stories of 2025

49:12 Favorite Guests of 2025

52:40 Reflecting on 2025 Predictions

56:33 Predictions for 2026

Disclosures

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In this episode of Bits + Bips, hosts Austin Campbell, Ram Ahluwalia, and Chris Perkins are joined by macro strategist Peter Tchir to unpack one of the most consequential geopolitical events in years: the U.S. capture of Venezuelan President Nicolás Maduro.

The conversation explores why Bitcoin surged past $94,000, what the operation signals about U.S. power and strategy, and how investors should think about energy, supply chains, and national security in a shifting global order.

The group also debates whether crypto’s 24/7 markets are revealing a structural weakness in traditional finance, whether Latin America is poised for an investment renaissance, and why “production for security” may replace ESG as the dominant investment framework.

Hosts:

Guest:

Links:

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Crypto markets this year failed to live up to expectations, raising questions about the trajectory for next year. The situation is further complicated by speculation that Bitcoin is about to kick off a multiyear decline in line with the so-called four year cycle.

In this Unchained podcast episode, Delphi Digital analysts Jason Pagoulatos and Jordan Yeakley break down the market and applications outlook for next year.

They look at whether the four year cycle would hold, what gold's run means for Bitcoin and the conditions that have led to recent market apathy. They also discussed whether the recent resurgence of privacy coins is a fad and who would come out on top in the race to become an “everything app.”

Is the four year cycle the result of multiple coincidences? And, is X the dark horse in the everything app meta?

Guests:

Jason Pagoulatos, Head of Markets at Delphi Digital

Jordan Yeakley, CFA, Research Analyst at Delphi Digital

Previous appearances on Unchained:

What Went Wrong With Pump's ICO and Where It Goes From Here

How Crypto Markets Are Post-Selloff, With Election/Fed Uncertainty

Links

Unchained:

Will Bitcoin’s New Phase Change It Forever? And Is the 4-Year Cycle Dead?

The Chopping Block: Hyperliquid vs. Tarun, ADL Transparency & The Coming Perps Arms Race

What Ethereum Will Look Like When It Implements Its New Privacy Focus

Why the Privacy Coins Mania Is Much More Than Price Action

Coinbase Launches Stock Trading and Prediction Markets

Inside Robinhood’s Big Super App Plan: ‘There’s Still a Lot of Work to Be Done’

How the x402 Standard Is Enabling AI Agents to Pay Each Other

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Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This episode opens with the Aave DAO civil war: a CoWSwap integration that allegedly routed swap fees to Aave Labs/Avara instead of the DAO, igniting “stealth privatization” claims, a “poison pill” push to seize Aave IP/brand, and a bigger fight over who really owns Aave.com and the protocol’s front door.

Next, the crew unpacks the Flow hack (a $3.9M mint exploit) and the wild rollback talk that followed — plus why forks and bridges make rollbacks dangerous, turning bridges into accidental custodians and breaking old security assumptions.

Finally, they break down Coinbase’s System Update and the “Everything Exchange” strategy — stocks, tokenization, perps, prediction markets, stablecoin rails — and whether this approach can win against Robinhood. DAO wars, chain chaos, and super-app ambition — let’s get into it.

Show highlights

🔹 Aave DAO civil war erupts — CoWSwap fees reportedly route to Aave Labs/Avara, not the DAO, fueling “stealth privatization” claims.

🔹 “Poison pill” proposal — DAO demands Aave IP/brand and Aave.com control, turning governance into a DevCo vs DAO showdown.

🔹 No foundation, messy ownership — Aave’s pre-foundation setup exposes off-chain IP risk, jurisdiction questions, and untested legal theory.

🔹 Christmas vote drama — 41% abstain signals a redo; OG/Asia backlash pits “property rights” vs “commons” narratives.

🔹 Flow hacked for $3.9M — chain pause + rollback idea sparks outrage (and wouldn’t even stop the attacker).

🔹 Rollbacks meet bridges — forked history can wipe innocent bridgers; bridges become custodians when chains reorg or rewind.

🔹 Interconnected chains break security — old models crumble, and small chains “die twice” when bridges/oracles unplug.

🔹 Coinbase goes “Everything Exchange” — stocks/ETFs, tokenization, perps, prediction markets; can Coinbase beat Robinhood’s funnel?

Hosts:

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Robert Leshner [MIA], CEO & Co-founder of Superstate

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Tom Schmidt, General Partner at Dragonfly 

Links:

Aave Cowswap Integration- Tokenholder Questions (aave discussion) 

https://governance.aave.com/t/aave-cowswap-integration-tokenholder-questions/23530?u=ignas 

Aave Will Win: 2026 Master Plan by Stani Kulechov

https://x.com/StaniKulechov/status/2001036446098919461 

Timestamps

00:00 Intro

01:51 Aave Civil War Erupts

06:37 CoWSwap Fees Spark Aave IP Debate

10:20 Can a DAO Own IP?

15:25 Aave’s Pre-Foundation Legal Quirk

28:20 Flow Hacked: $3.9M Mint Attack

33:50 Small Chains Die When Bridges Leave

34:33 App Chains Boom Is Over

36:32 The Hidden $20M L1 Tax

43:29 Coinbase System Update: Everything Exchange

57:43 Coinbase vs Robinhood: Build vs Buy

Disclosures

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In this year-end Bits + Bips roundtable, hosts Austin Campbell and Chris Perkins are joined by John D’Agostino, Head of Strategy at Coinbase Institutional, for a wide-ranging and often contentious look at what 2026 may hold for crypto.

They debate whether a major global brand will launch its own stablecoin, whether altcoins are structurally doomed—or secretly set up for a Wall Street–driven resurgence—and whether a major crypto hack is coming.

The conversation also explores how tokens accrue value and whether there will be a new M&A trend that’ll reshape the industry as we know it.

Plus: don’t miss what they have to say about NFTs, financial nihilism, and whether we’ll see all-time highs for bitcoin in 2026.

Hosts:

Ram Ahluwalia, CFA, CEO and Founder of Lumida

Austin Campbell, NYU Stern professor and Founder of Zero Knowledge Consulting

Christopher Perkins, Managing Partner and President of CoinFund

Guest:

Timestamps

🚀 3:38 Why John thinks a global Web2 giant will launch a stablecoin in 2026

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2025 was a year of mixed outcomes for crypto. The industry got landmark stablecoin regulations in the U.S. but with a major limitation. Bitcoin soared to new all-time highs but failed to surge to heights many expected and is set to end the year flat.

In this final installment of Unchained's year in review show, Ambient Finance founder Doug Colkitt and Gwart take a look back at the passing of the GENIUS Act, Bitcoin's all-time high run and the “10/10” crash.

Plus, did “threadguy's” tax woes trigger Zcash's run? And is Nic Carter overreacting about the quantum computing threat to Bitcoin?

Guests:

Doug Colkitt, Co-founder of Fogo and Ambient Finance

Gwart, Host of The Gwart Show

Unchained:

Who Are the Winners and Losers of the New Stablecoin Law in the U.S.?

Pump.fun Becomes Third Largest ICO, Raises $600M in 12 Minutes

Stripe and Paradigm Announce New Layer 1 Blockchain ’Tempo’

Stablecoin Issuers Enter Bidding War to Launch Hyperliquid’s USDH

Coinbase Buys Cobie’s ‘Up Only’ NFT and Echo in $375 Million Deal

Bitcoin Hits All-Time High Ahead of $125,500

Crypto Markets Recover After Record $19 Billion Liquidation

Why the Black Friday Whale’s $192 Million Crypto Trade Was Legal

Why the Privacy Coins Mania Is Much More Than Price Action

How the x402 Standard Is Enabling AI Agents to Pay Each Other

MegaETH Just Had Its Public Sale. Can It Succeed in Building a Web2-Like Experience?

Can ‘Choose Rich’ Nick Create the Barstool Sports of Crypto?

Do Kwon Sentenced to 15 Years in Prison

Cracking Bitcoin Encryption Is Getting Much Easier, Google Says

Timestamps:

🚀 00:00 Introduction 

🫠 00:53 Why GENIUS Act blocking interest payments is problematic 

🤔 4:31 Did PUMP launch buybacks too soon?

👀 10:56 Is Stripe fully committed to Tempo?

⁉️ 14:28 Was Hyperliquid's USDH partner “pre-ordained?”

😅 19:38 Is Cobie Coinbase’s best hire yet?

😵‍💫 27:16 Bitcoin's peak in downtober

❕️ 29:55 What “10/10” says about the crypto industry 

🤣 41:13 Did “threadguy's” tax woes trigger Zcash's run?

👀 47:27 Is the AI agent meta a “charade?”

🤺 50:27 What is fueling the bitter rivalry between Kalshi and Polymarket

🤔 56:50 Did “ICOBeast” deserve to lose his MegaETH allocation?

💥 1:00:40 Is “Choose Rich” Nick now mainstream?

🫣 1:02:55 Was Do Kwon's 15 year sentence excessive?

🧐 1:08:54 Is Nic Carter overreacting about the quantum computing threat to Bitcoin?

🔮 1:13:42 Doug and Gwart lock in their 2026 predictions

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Crypto natives entered 2025 with many expectations, but bingo cards likely did not include world leaders launching memecoins.

In this first installment of a two part Unchained Special, Ambient Finance founder Doug Colkitt and “Gwart” join to offer a whimsical take on some of the years major happenings as it pertains to crypto.

How did an erstwhile dropshipper get in bed with world leaders and convince them to launch memecoins? And did Tom Lee's “good hair” save ETH?

Thank you to our sponsor, Walrus! http://walrus.xyz/

Doug Colkitt, Co-founder of Fogo and Ambient Finance

Gwart, Host of The Gwart Show

Unchained:

Why Lyn Alden Isn’t a Fan of Trump’s Memecoins, but Neutral on a Strategic Bitcoin Reserve

The Chopping Block: Trump’s Crypto Shake-Up, Solana’s Big Moment, that Changes Everything

Why Would Argentine President Javier Milei Protect Kelsier’s Hayden Davis?

How the $1.5 Billion Bybit Hack Could Have Been Prevented

Which Crypto Assets Belong in a Reserve? This VC Says Not XRP and ADA

White House Crypto Summit: Two Attendees Share Why It Matters

Arthur Hayes and Hanson Birringer on Hyperliquid’s Success (And What Could Stop It)

Hyperliquid Trader Makes $87M in 70 Days, Loses It In Five

The Chopping Block: Tom Lee the New Saylor? DAT Consolidation, Token Wrappers Under Fire

Circle, Issuer of the $61.5 Billion USDC, Raises $1.1 Billion in Landmark IPO

Why Arbitrum Won Over Robinhood + A $59 Million Polymarket Controversy

DAT Stocks Are on Sale. Are They a Buy? Plus, Why Crypto Is Dead

Timestamps:

🚀 00:00 Introduction 

😵 1:20 How Trump and Melania surprised the crypto community with Solana memecoins

😅 4:46 How Hayden Davis went from dropshipping to launching coins with world leaders

🫠 8:39 Could a test transaction have saved Bybit from the largest heist of all time?

🫡 13:34 How Ripple lobbyists reportedly got Trump to shout out an XRP reserve

🤣 17:55 Was the White House Crypto Summit hijacked by FIFA?

🤺 20:20 Hyperliquid's Run and the CZ v. Jeff Memes

😅 26:48 Who is James Wynn, really?

😆 30:36 What sparked ETH's comeback? Tom Lee's good hair or EF reforms?

📈 35:51 How Circle's IPO run blindsided Arthur Hayes

🎇 38:48 Robinhood's grand on-chain debut

🫠 43:58 Still early or DOA? Base's hit and miss campaigns

🤔 54:23 How does the DAT mania end?

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In this Christmas Eve episode of DEX in the City, hosts Jessi Brooks, Katherine Kirkpatrick Bos, and Vy Le break down a pivotal moment for crypto: the industry is no longer operating as a self-contained, oppositional ecosystem. It’s converging with traditional finance. And the cool thing? Washington is responding.

The trio unpacks the latest on the crypto market structure bill, what it means that TradFi players are actively supporting legislation, how compliance tools like KYC became unavoidable, and why crypto may be going through an identity crisis. 

They also delve into why Democratic engagement is crucial to getting a bill across the finish line, and why January’s confirmed markup could be a turning point.

Hosts:

Jessi Brooks, General Counsel at Ribbit Capital

Katherine Kirkpatrick Bos, General Counsel at StarkWare

TuongVy Le, General Counsel at Veda

Timestamps:

🎬 0:00 Intro

🎄 2:09 Whether crypto’s convergence with TradFi is finally changing how policymakers treat the industry

🧬 13:54 What “crypto-native hybrids” are and why they’re suddenly everywhere

🔐 15:23 How KYC and compliance tools went from optional to unavoidable in crypto’s tech stack

🪞 18:24 Why Vy says crypto is in the middle of a real identity crisis

📅 21:12 Why a confirmed January markup is a much bigger deal than it sounds

⚔️ 24:00 How the DeFi fight inside the bill is shaping up and why TradFi is now showing up loudly

🏛️ 31:02 What Democrats are zeroing in on to actually get this bill across the finish line

🔄 35:02 Whether the revolving door between government and crypto is healthy or a red flag

✨ 45:49 Good news and end-of-year thoughts

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